John Vella, executive vice president of portfolio servicing strategies for Residential Capital Corp. (ResCap), has resigned from the company, effective immediately, according to a memo provided to National Mortgage News.

At press time, the GMAC-owned ResCap could not be reached for comment. According to a memo from GMAC mortgage chairman Tom Marano, Vella's duties will be given over to chief servicing officer Joe Pensabene.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.